Investment in Poland gaining pace?

Posted on December 22, 2016 by admin

Central Statistical Office published first data on investment in November 2016. The numbers came as a bit of a surprise to many economic experts. Deputy Prime Minister Mateusz Morawiecki, the person in charge of both the Ministry of Finance and the Ministry of Development expressed a belief that first half of 2017 will show an increase in investment in Poland. The minister is certain a boost in investments will appear no later than in the third quarter of the upcoming year. Inv Read more

Compliance obligations: VAT tax returns

Posted on December 21, 2016 by admin

There are many obligations that Polish law imposes on entrepreneurs. Polish tax regulations are one of the most complicated, if not THE most complicated, in Europe. It is extremely important that a company is up to date with all tax regulations, amendments, court decisions, and opinions coming from the Ministry of Finance. A common compliance obligation is reporting VAT transactions and filing VAT tax returns. Valued Added Tax is the biggest source of revenue for the state budget. Tax a Read more

Liquidation of a Polish company

Posted on December 20, 2016 by admin

Not every business idea turns into a great success. When things do not go according to plan, sometimes company liquidation is the best option. The liquidation process is described in the Commercial Companies Code. To officially close a limited liability company (spółka z ograniczoną odpowiedzialnością) follow these steps. If you have made the difficult decision to end your operations, the first step you need to take is gathering together all company shareholders. Company l Read more

Taxes in Poland

Posted on December 19, 2016 by admin

There are two things certain in life – death and taxes. Is there anyone who has not came across this piece of knowledge? Tax compliance is a very important issue for any company in Poland and elsewhere. Taxation in Poland is characterized by its complexity and plethora of regulations. The most important fiscal acts are The Tax Ordinance Act, The Goods and Services Tax Act, The Corporate Income Tax Act and The Personal Income Tax Act. Tax obligations depend to a large extend o Read more

Chief accounting principles in Poland

Posted on December 18, 2016 by admin

Proper accounting and bookkeeping are fundamental to any company. They present financial information in the way that is to allow company managers make decisions concerning the future of the enterprise. It is extremely important to have accounting books maintained by professionals. Companies need to conduct proper bookkeeping and comply with certain legal obligations related to bookkeeping. Bookkeeping records need to be verifiable and reliable. In order to assure that, one needs to adhe Read more

Accounting and bookkeeping regulations in Poland

Posted on December 17, 2016 by admin

Accounting is vital to every company, regardless of its field of activity, size, or plans for the future. Keeping accounting books in order is not only necessary to have a proper overview of company operations, costs, and profits, but is above all a legal obligation. In Poland, accountancy and bookkeeping is regulated by Accounting act of 29 September 1994. The chief rule behind all bookkeeping is that it should present a true a fair image of the entity’s financial position and result Read more

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